Carson Yeung will serve the rest of his six-year jail sentence after his final appeal against money laundering charges was rejected.

The former Birmingham City chairman, who bought the club from Davids Gold and Sullivan in 2009, was sentenced in March 2014 after being found guilty of laundering more than HK$700 million.

Yeung, a former hairdresser, has been on bail since August last year but has today seen his final appeal dismissed by the Court of Final Appeal that were unanimous in their verdict, writes the South China Morning Post.

He will be unable to return to St Andrew's in any capacity - his conviction automatically disqualifies him under the fit and proper person test.

While this significant development does not affect Blues' protracted takeover, Yeung, Birmingham International Holdings and the club themselves have all agreed to drop actions against each other with a view to Trillion Trophy Asia’s buyout being voted through.